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Multifamily

Wash U Student Housing Portfolio

900 Eastgate Ave, University City, MO 63130

Listing Price: Request For Offer

Number of Units
28
Occupancy
95.0%
Gross SF
3,852

Investment Overview

Marcus & Millichap is pleased to present The Wash-U Student Housing Portfolio located 0.4 miles on average to Washington University in St. Louis, Missouri. The 8 buildings are located in the highly desirable neighborhood of University City and boasts a Walk Score of 84. Originally built between (1910-1930) and renovated with modern finishes is why the portfolio historically has operated at 100% occupancy for the units. The unit mix consists of (16) two bedroom / one bathroom units, (9) three bedroom / one bathroom units, and (3) four bedroom / one bathroom units. Current ownership has completed multiple capex projects which consist of replacing 6 of the 8 roofs, condensers, furnaces, ovens, refrigerators, water heaters, dishwashers, washers, microwaves and garbage disposals as needed. Attractive tenant offerings include on-site laundry, parking garages and balconies for every unit.

With Washington University’s campus, Forest Park (which also hosts the St. Louis Zoo) and The Loop less than a mile away, the property is centrally located to all the best attractions St. Louis has to offer. As a highly desirable and walkable area, The Wash-U Student housing portfolio ultimately presents investors the rare opportunity to acquire a well maintained, stabilized asset with significant rental upside that will only continue to benefit from appreciation and rent growth in one of St. Louis’s most premier rental markets. For example, the average rents for this portfolio are currently at $1,651 per unit while comparable properties show you can push rents up $244 per unit.

Investment Highlights

  • New Roofs on Six of the Eight Buildings
  • Portfolio Consists of 8 Buildings with 28 Units/71 Beds
  • Average Unit Size of 1058 Square Feet
  • Average Rent Per Unit is at $1,651 Per Month

Exclusively Listed By

Multifamily

Wash U Student Housing Portfolio

Listing Price: Request For Offer

Number of Units
28
Occupancy
95.0%
Gross SF
3,852

Investment Highlights

  • New Roofs on Six of the Eight Buildings
  • Portfolio Consists of 8 Buildings with 28 Units/71 Beds
  • Average Unit Size of 1058 Square Feet
  • Average Rent Per Unit is at $1,651 Per Month

Investment Overview

Marcus & Millichap is pleased to present The Wash-U Student Housing Portfolio located 0.4 miles on average to Washington University in St. Louis, Missouri. The 8 buildings are located in the highly desirable neighborhood of University City and boasts a Walk Score of 84. Originally built between (1910-1930) and renovated with modern finishes is why the portfolio historically has operated at 100% occupancy for the units. The unit mix consists of (16) two bedroom / one bathroom units, (9) three bedroom / one bathroom units, and (3) four bedroom / one bathroom units. Current ownership has completed multiple capex projects which consist of replacing 6 of the 8 roofs, condensers, furnaces, ovens, refrigerators, water heaters, dishwashers, washers, microwaves and garbage disposals as needed. Attractive tenant offerings include on-site laundry, parking garages and balconies for every unit. With Washington University’s campus, Forest Park (which also hosts the St. Louis Zoo) and The Loop less than a mile away, the property is centrally located to all the best attractions St. Louis has to offer. As a highly desirable and walkable area, The Wash-U Student housing portfolio ultimately presents investors the rare opportunity to acquire a well maintained, stabilized asset with significant rental upside that will only continue to benefit from appreciation and rent growth in one of St. Louis’s most premier rental markets. For example, the average rents for this portfolio are currently at $1,651 per unit while comparable properties show you can push rents up $244 per unit.

Exclusively Listed By

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